Influenza Diagnostics Market Value to reach US$ 4.5 Billion in 2032, Opines Fact.MR

According to Fact.MR, the global influenza diagnostics market will grow at a CAGR of 5% during the 2022-2032 forecast period, reaching US$ 4.5 Billion. With strong demand for rapid disease diagnosis, rising influenza prevalence, and researchers focusing more on developing diagnostic technologies, the market is expected to offer growth opportunities for diagnostic technology providers.

In the wake of the COVID-19 pandemic, home testing for infectious diseases has gained prominence. Various viral and bacterial pathogens are now being tested at home, resulting in considerable commercial interest. Despite this, the US Food and Drug Administration (FDA) has not yet formalized the regulatory science regarding approval of home infectious disease tests and the procedures that laboratory professionals and test manufacturers will need to follow, except for the Emergency Use Authorization (EUA) guidelines for COVID-19 tests.

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Using smartphones to screen for diseases has contributed to an increase in market revenue in recent years. Advances in molecular and biomedical technologies have paved the way for a wide range of influenza diagnostic and monitoring technologies. Novel influenza viruses are discovered using these new genomic and proteomic detection methods. Furthermore, they offer the opportunity for companies to increase their surveillance of infectious diseases and detect them faster, which can translate into increased revenue for them.

Key Takeaways from Market Study

• The global influenza diagnostics market is forecast to grow at a CAGR of 5% through 2032.
• It is expected that influenza A+B tests will hold an 81% market share as a result of their simplicity and rapidity, and the market will continue to grow at an equivalent pace.
• By region, North America is expected to hold 37% of the share of the revenue for influenza diagnostics over the next few years.
• Among the end-user segments, diagnostic reference laboratories are expected to hold a share of 79% of the influenza diagnostics market.
• Over the next decade, influenza diagnostic product sales are expected to grow at a compound annual growth rate of 5.3%.

“Demand for the at-home flu test is expected to increase in the future, along with research and development activities and rapid results for screening for flu. As a result, there will be a huge demand for influenza diagnostics in the years ahead,” says a Fact.MR analyst.

Market Competition

Several strategies are used by the major players to gain market share in the global influenza diagnostics market, including mergers and acquisitions, expansions, collaborations, and partnerships. The global influenza diagnostics market is characterized by new product launches and regulatory approvals.

• In 2022, JMIR Publications published a report in JMIR Public Health and Surveillance titled "Diagnostic Accuracy of a Self-test for Influenza At Home: Prospective Comparative Accuracy Study," which suggested that individuals could access influenza rapid diagnostic tests (RDTs) at home to increase access to testing and reduce influenza's impact on health systems by reducing access to testing. The better accessibility of testing could reduce the time between symptom onset and diagnosis, enabling faster intervention for those who test positive, such as changing behavior to reduce the spread of the disease.
• One Health and One World company Longhorn Vaccines and Diagnostics LLC is developing vaccines and diagnostic tools for zoonosis and global public health concerns. In a recent study, the company published data on an adjuvanted composite peptide vaccine containing multiple conserved epitopes from influenza viruses and Coronaviruses. ALFQ (Autologous Liposomal Fluid) was used as a composition adjuvant in Longhorn's lead vaccine candidate LHNVD-105. A balanced immune response is generated by both vaccines.

Major Influenza Diagnostic Market Players

• Thermo Fisher Scientific
• Hologic
• Quidel Corporation
• F. Hoffmann-La Roche AG
• Abbott Laboratories
• Becton
• Dickinson and Company
• Danaher Corporation
• Meridian Bioscience
• bioMérieux SA
• Luminex Corporation
• Siemens Healthineers AG
• GenMark Diagnostics
• Sekisui Diagnostics
• LLC altona Diagnostics GmbH
• SA Scientific
• ELITech Group
• Coris Bioconcept SPRL
• Mast Group Ltd.

Key Segments Covered in Influenza Diagnostics Industry Research

• By Test :
  • Traditional Influenza Diagnostic Tests
    • Rapid Influenza Diagnostic Tests (RIDTs)
    • Direct Fluorescent Antibody (DFA) Tests
    • Viral Culture
    • Serological Assays
  • Molecular Influenza Diagnostic Tests
    • Reverse Transcription Polymerase Chain Reaction (RT-PCR)
    • Isothermal Nucleic Acid Amplification Tests (INAAT)
    • Loop-Mediated Isothermal-based Amplification Assays
    • Transcription Mediated Isothermal-based Amplification Assays
    • Transcription Mediated Isothermal-based Amplification Assays

• By End User :
  • Hospitals & Clinical Laboratories
  • Diagnostic Reference Laboratories
  • Academic/Research Institutes

• By Region :
  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • MEA

More Valuable Insights Available

Fact.MR, in its new offering, presents an unbiased analysis of the influenza diagnostics market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2032.

The study divulges essential insights on the market by Test (Traditional Influenza(Rapid Influenza Diagnostic Tests (RIDTs), Direct Fluorescent Antibody (DFA) Tests, Viral Culture, Serological Assays), Molecular Influenza Diagnostic Tests(Reverse Transcription Polymerase Chain Reaction (RT-PCR), Isothermal Nucleic Acid Amplification Tests (NAAT)(Loop Mediated Isothermal-based Amplification Assays, Transcription Mediated Isothermal-based Amplification Assays), By End User (Hospitals & Clinical Laboratories, Diagnostic Reference Laboratories, Academic/Research Institutes), and Region.

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